LafargeHolcim, the biggest construction materials producer in Romania, took over Romanian building blocks producer Somaco from Swedish investment fund Oresa. The value of the transaction was not disclosed.
Somaco produces concrete blocks and autoclaved aerated concrete (AAC). The company had a turnover of RON 213 million (EUR 45.8 million) and a net profit of RON 18.8 million (EUR 4 million) in 2018.
Somaco has six factories and over 760 employees. Oresa bought the factories gradually starting 2008.
LafargeHolcim is the biggest cement producer in Romania, with a turnover of RON 1.27 billion (EUR 273 million) and a net profit of RON 182 million (EUR 39 million) in 2018. The group has close to 800 employees in the country. The acquisition will consolidate LafargeHolcim’s top position on the local market.
The volume of construction work in Romania increased by 23.1% in the first five months of this year compared to the same...